Pricing StrategiesOrder DescriptionInstructionsOn your next trip to a mall, visit the primary stores and leading apparel stores*. First, notice the various types of pricing strategies each retail store employs (everyday low pricing, flexible pricing, odd pricing, etc.). Next, look around at displays and notice if they are having sales. Based on the amount of merchandise on sale and the amount of reductions, determine if each store is using an early or late markdown policy.For the written portion of this assignment, explain the: (1) pricing strategies and (2) early/late markdown reasoning for each store and especially explain the reasoning for differences between the stores.Be sure to use complementary information you have learned thus far from your text and Chapter 17**.*You must choose at least 3 retail stores, you may also use online store websites.**Include citations to refer to use of terms and pages in textbook.Format 1 inch margins, Size 12 Calibri Font, single-spaced, 2 pagesGrading criteria: Grades for the project will be based on the following criteria:1. Thoroughness of report: were pricing and early/late markdown strategies discussed for each retail store? Was complementary information provided from the textbook and textbook terms used?2. Clarity of the report: how well was the report written? Is it clear, well organized, attractive? Are there spelling or grammatical errors that detract from the review?3. Insight of the report: does the report provide clear insight to the likely reasons why there are differences between the various pricing strategies (including early/late markdowns) and the type of retail store?